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USDA offering home loan funding

WORTHINGTON -- USDA Rural Development is offering home loans to low-income individuals and families living in rural Minnesota, including Worthington.Applicants must be unable to qualify for traditional financing and meet USDA income and credit re...

WORTHINGTON - USDA Rural Development is offering home loans to low-income individuals and families living in rural Minnesota, including Worthington.
Applicants must be unable to qualify for traditional financing and meet USDA income and credit requirements. Homes must be modest in size and design and be located in a rural community of 20,000 people or fewer that is not urban in nature. No down payment or mortgage insurance is required.
Rural Development also offers home repair loans for very-low-income homeowners. Loans up to $20,000 are available at an interest rate of 1 percent and repayable over 20 years. Grants up to $7,500 may be available to homeowners over the age of 62 and must be used to remove health or safety hazards.
For more information, contact the Worthington Rural Development Office, 372-7783, ext. 4, or visit www.rurdev.usda.gov/mn .

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